eBay Sells Rent.com To PrimediaBy: Chris Crum - March 22, 2012
eBay has sold Rent.com to Primedia, which also owns ApartmentGuide.com, Rentals.com, RentalHouses.com and NewHomeGuide.com. The property search site should fit right in.
eBay says Rent.com had “limited synergies” with its core business, and that the company is “focusing on enabling commerce for buyers and sellers globally through platforms and technology.
“Rent.com has a strong reputation, brand awareness, history and URL,” Primedia CEO Charles Stubbs said. “Both Rent.com and PRIMEDIA have long track records of delivering a high-quality consumer and client experience in the marketplace.”
“We are excited to be joining PRIMEDIA, a leading vertical search company in the apartment and rental housing sector,” said Rent.com GM Bill McKnight. “Rent.com fits in nicely with PRIMEDIA’s mission of being the go-to resource to help people find the perfect place to live.”
Terms of the deal weren’t disclosed.